Computing Depreciation Using Various Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following data are used for equipment purchased on January 1 of the current year. Required Compute annual depreciation using each of the following methods. a. Straight-line depreciation: Compute the depreciation rate and amount for each year. Note: Enter the rate in decimal form (such as 0.10 ) and not as a percentage. Depreciation Rate b. Units-of-production method using service hours as a measure of input: Compute the depreciation rate and amount of depreciation expense for the first year assuming 3,080 service hours of actual operation. Depreciation rate per service hour c. Units-of-production method using units produced as a measure of output: Compute the depreciation rate and amount of depreciation expense for the first year assuming 5,600 units of output. Depreciation rate per unit d. Sum-of-the-years'-digits method: Compute the depreciation amount for each year. e. Double-declining-balance method: Compute the depreciation amount for each year